Maurel et Prom shares rise on hopes for Venezuela license restoration

Shares in French oil group Maurel et Prom MAUP.PA jump 7.5% as the U.S. military intervention in Venezuela opens the possibility of a restoration of its exploitation license in the country

"Assuming a stable political environment, renewed licensing, restored diluent flows, and unrestricted operations, Venezuelan supply could rebound rapidly to approximately 1.2 mbd within a few months," J.P. Morgan says

Full U.S. sanctions relief could boost Venezuelan output by several hundred thousand barrels per day within a year, but returning to 3 mbd would require years of $10 billion annual investment and a stable security environment, both highly challenging, RBC adds

M&P saw its license revoked by the U.S. government in March last year

Shares now trade at pre-revocation levels, touching highest price since late February

They have gained about 23% over the past week